CFTC to Host Cryptocurrency CEO Forum to Discuss Digital Asset Market Pilot Program

Whale 0xFDd4 opened a 1x short on 3.32M $BTW ($2.28M) on @Aster_DEX and is already up $989K in unrealized profit.

Following the conclusion of the U.S. midterm elections on November 3, the crypto market’s momentum plummeted due to factors including slower crypto deregulation and rising interest rate hike expectations. Market panic reignited yesterday after a viral meme falsely claiming NVIDIA CEO Jensen Huang had stepped down, leading to further tightening of liquidity for risk assets, with the crypto market bearing the brunt. The two only hot sectors in the market—privacy coins and perpetual DEXs—have cooled sharply. Among privacy coins, ZEC, which had defied market trends and held its value over the past six months, has now fallen by more than 30% in the past week, underperforming Bitcoin. Driven by ZEC, the entire privacy coin sector saw a deep pullback: XMR dropped 18% in the past week, Dash fell 13.7%, and NEAR declined 11.1%. On the other hand, the perpetual DEX sector also saw a notable pullback amid doubts about the sustainability of U.S. stock AI trading and growing uncertainty over crypto regulation. After ICE, parent company of the New York Stock Exchange, announced a partnership with Trade.xyz, HYPE’s price once neared its all-time high. However, Trump’s crushing midterm election defeat led the market to return to a cautious wait-and-see stance on U.S. stock derivatives regulation, causing HYPE’s price to plummet. It has fallen 24% in the past two weeks, while LIT, which follows a similar investment logic, dropped 9.2% in the past week. Finally, tokens closely linked to Trump fared even worse: both WLFI and the meme coin TRUMP have hit recent all-time lows, with the latter plunging 44.8% in the past 30 days, far outpacing the market’s average decline.

Jack Yi, founder of Liquid Capital, wrote that Jensen Huang is clearly being targeted, and Nvidia and Huang can achieve a win-win through a "split-then-reunite" approach: Nvidia hires Huang as a consultant, he re-founds an AI firm, and after a period of growth, Nvidia acquires it, allowing Huang to return as CEO. Jack Yi noted that Huang remains Nvidia’s largest individual shareholder and a symbolic figurehead, adding that many companies grow mediocre after losing their founders. He also warned that shifts in the U.S. political landscape may heighten uncertainty in business environments, with poor performance expected for U.S. stocks going forward, and crypto markets will be dragged down. Additionally, factors including MicroStrategy’s removal from an index and Binance’s security incident are intensifying market pressure, with Bitcoin having fallen below its previously projected low of $71,000.

Whale 0xFDd4 opened a 1x short on 3.32M $BTW ($2.28M) on @Aster_DEX and is already up $989K in unrealized profit.

Even hackers are panic-selling $ETH as the market crashes! A wallet received 1,500 $ETH from #TornadoCash, then sold 1,499.5 $ETH ($3M) at $1,998.

According to Lookonchain monitoring, a wallet suspected to be linked to hacker activities received 1,500 ETH from Tornado Cash, then sold 1,499.5 ETH, cashing out roughly $3 million at an average price of about $1,998 per ETH. The transaction took place amid a market downturn, and the suspected hacker address also engaged in concentrated ETH selling. The wallet’s specific identity and funding source have not been further confirmed.